Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $2,968,113.78 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded up $0.29 during trading hours on Friday, reaching $71.49. The company's stock had a trading volume of 1,434,603 shares, compared to its average volume of 3,082,843. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's 50 day simple moving average is $75.34 and its 200 day simple moving average is $78.45. The stock has a market cap of $21.82 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ZM shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays reduced their price target on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Benchmark reissued a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $86.62.

Hedge Funds Weigh In On Zoom Video Communications

A number of large investors have recently bought and sold shares of ZM. QRG Capital Management Inc. boosted its holdings in shares of Zoom Video Communications by 28.8% during the first quarter. QRG Capital Management Inc. now owns 20,532 shares of the company's stock valued at $1,515,000 after acquiring an additional 4,590 shares during the period. Adero Partners LLC boosted its stake in Zoom Video Communications by 701.5% during the 1st quarter. Adero Partners LLC now owns 44,153 shares of the company's stock valued at $3,257,000 after purchasing an additional 38,644 shares during the period. Janney Montgomery Scott LLC grew its position in Zoom Video Communications by 22.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,706 shares of the company's stock worth $1,675,000 after purchasing an additional 4,106 shares during the last quarter. Optas LLC acquired a new stake in shares of Zoom Video Communications in the first quarter valued at approximately $463,000. Finally, Grant Private Wealth Management Inc raised its holdings in shares of Zoom Video Communications by 12.4% during the first quarter. Grant Private Wealth Management Inc now owns 12,870 shares of the company's stock valued at $949,000 after buying an additional 1,420 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.